Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $209.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by TD Cowen from $214.00 to $209.00 in a research report issued on Friday, Briefing.com reports. The firm currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 12.33% from the stock’s previous close.

Several other research firms have also weighed in on ODFL. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday. Raymond James raised their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America upped their price objective on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Finally, Evercore ISI restated an “in-line” rating and issued a $196.00 target price (down from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $201.06.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $186.06 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $40.43 billion, a PE ratio of 32.76, a P/E/G ratio of 3.76 and a beta of 1.00. The business has a 50 day moving average of $193.92 and a 200-day moving average of $197.74. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the 2nd quarter worth approximately $25,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line in the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. increased its stake in Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Atwood & Palmer Inc. raised its position in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $29,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.